Elon Musk says the Crypto Mining Council is 'potentially promising'

A Crypto Mining Council was established to encourage greener practices and reduce the high energy consumption required by crypto mining, and Elon Musk described the plan as "potentially promising". The Bitcoin Mining Council is made up of a number of North American cryptocurrency miners who come together to discuss issues related to Bitcoin mining. At a recent meeting Tesla from Elon Musk, Argo Blockchain, MicroStrategy Inc, Marathon Digital Holdings, HIVE Blockchain Technologies Ltd and Riot Blockchain Inc. He participated in companies such as, and future projects for the use of renewable energy. Earlier this month, Musk shared another tweet and expressed concerns about the use of fossil fuels for Bitcoin mining, which turned the market into a spin with the Bitcoin ban in China. "We are concerned about the increased use of fossil fuels for Bitcoin mining and operations, especially coal, which has the worst emissions of all fuels." However, Alex de Vries of the Digiconomist website spoke to the BBC about the problems mining companies will face. As they pursue their plans to find greener energy sources, "Even if we have the explanation, that doesn't change the natural incentives of miners to look for the cheapest and most consistent sources of energy. Fossil fuels. Kentucky. It even offered a tax cut for Bitcoin miners to come and use their old coal fields." Therefore, I don't see this trend towards more renewable energy sources. ”Still, Argo CEO Peter Wall acknowledged the more positive New BMC's outlook and Argo sees this as the logical next step in promoting an industry shift towards renewable energies. does. “I enjoyed talking to Elon Musk about these issues this weekend and I look forward to working with Michael Saylor and the other great North American miners in Futu.

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